Nakamoto Q1 net loss $238.8M, hit by Bitcoin price drop; revenue $2.7M, partial quarter from new units

Nakamoto Inc.

2026-Q1 EPS reported -$0.38 revenue$1,607,000

Total operating revenue $2.7M, up from $0.6M YoY; net loss $238.8M driven by $102.5M BTC mark-to-market loss and $107.7M non-cash option reduction.
GAAP operating loss $126.2M; adjusted non-GAAP operating loss $7.8M including ~$8M transaction costs.
Completed acquisitions of BTC Inc and UTXO Management on Feb 20, 2026; partial quarter contributions from Media ($0.8M) and Asset Mgmt ($0.2M).
Held >5,000 BTC worth ~$345M at quarter-end; sold 284 BTC for working capital; Bitcoin price fell from $87,519 to $68,220.
Healthcare wind-down expected substantially complete by Q2 2026; cash $35.3M, notes payable $210M, enterprise value $327M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Nakamoto Inc. reported first quarter ended March 31, 2026 results: revenue $2.7 million.

Period: first quarter ended March 31, 2026
Revenue: $2.7 million
Result: reported results

Exact text from the filing

announced its results for the first quarter ended March 31, 2026. Q1 Operational & Financial Highlights ● Completion of the acquisitions of BTC Inc. and UTXO Management GP, LLC (“UTXO Management”) on February 20, 2026, establishing Nakamoto’s foundational operating businesses across media, asset management, and advisory. ● Launched an actively managed Bitcoin derivatives strategy designed to generate yield on treasury assets and enhance capital efficiency while managing downside exposure. ● Reported total operating revenue of $2.7 million, including: ○ $1.6 million from operating businesses. ○ $1.1 million from Bitcoin treasury and derivatives strategy. ● Reported a net loss of $238.8 million, primarily driven by non-cash and transaction-related items

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Source: SEC EDGAR

accession 0001493152-26-022786

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